$42,800 Car Loan

What's the monthly payment on a $42,800 car?
$
$
%
Monthly payment = $777
Total yearly payments = $9,323
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $743
3.0% $758
4.0% $773
5.0% $789
6.0% $804
7.0% $820
8.0% $836
9.0% $852
10.0% $868
Payments by Amount Down
Down Monthly Payment
$0 $971
$2,000 $926
$5,000 $858
$8,000 $790
$10,000 $744
$15,000 $631
Payments by Loan Length
Length Payment
24 months $1,491
36 months $1,015
48 months $777
60 months $634
72 months $540
84 months $472

Can I afford a $42,800 car?

Is your salary enough to buy a $42,800 vehicle? A general rule of thumb for buying a car or truck is the 20 / 4 / 10 rule.

  • Make a down payment of at least 20% cash. For a $42,800 vehicle, this would mean saving up $8,560.
  • Pay back the loan in 4 years or less.
  • Don't spend more than 10% of your income on payments and insurance. Rough estimate: your annual income should be at least 2.5 times the purchase price. So to afford a car that costs $42,800, you would need to make at least $107,000 per year.